Montréal, Québec, February 23, 2015 – Sama Resources Inc./Ressources Sama Inc. (TSX Venture: SME) (“Sama” or the “Company“) reports that as a result of a technical disclosure review by the British Columbia Securities Commission, the Company wishes to clarify and retract the technical disclosure regarding an economic assessment on the Samapleu Property included in its corporate presentation titled: “2015 Mining Indaba: Cape Town South Africa, Developing West Africa’s First Nickel, Copper, and Palladium District” (“Corporate Presentation”), which was uploaded to the Company website and was publicly available on February 17 and 18, 2015.
The Company hereby retracts the disclosure of the economic analysis on page 12 of the Corporate Presentation, including the IRR and NPV analysis. The disclosure of the economic analysis found on page 12 of the Corporate Presentation was not supported by an independent Preliminary Economic Assessment. The Company has deleted these estimates and removed all such references to these estimates from the Corporate Presentation and cautions investors that any reference to the economic analysis included in the Corporate Presentation should not be relied upon for investment purposes.
The Company wishes to remind investors that the current NI 43-101 compliant technical report dated August 22, 2013 on the Samapleu project titled: “Technical Report on the Samapleu Nickel and Copper Deposits Cote d’Ivoire, West Africa” is available on the Company’s website and filed on SEDAR.
Readers are invited to visit the Company’s website for an updated copy of the Sama’s corporate presentation and additional details at
https://samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf
FOR FURTHER INFORMATION, PLEASE CONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
OR
Mr. Matt Johnston
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 4
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements Certain of the statements made and information contained herein are “forward-looking statements” within the meaning of Canadian securities legislation or “forward-looking information” within the meaning of the Ontario Securities Act and the Securities Act (British Columbia). This includes statements concerning the Company’s plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to vary or be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or forward-looking information. Information regarding drilling results may also be deemed to be forward-looking statements or forward-looking information in that they reflect a prediction of what may be found to be present when and if a project is actually developed.
Forward-looking statements and forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties.
In addition, forward-looking statements and forward-looking information are based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.